Thanks, Tree. At $16-$18B for 6-7 mtpa that's about what they are spending on PNG LNG, except the number doesn't appear to include the "shallow broad field...expensive horizontal drilling" in 3,000 meters of water. Helps the rumors of an Exxon/IOC deal that "makes everyone happy" increasingly plausible.
I continue to worry a bit though about the issue with Gulf Province and their stated desire to process all gas locally.
The statement by Nolan of a 4-5 TCF resource at E/A is the lowest number I've seen since before Antelope 2 was appraised.
Maybe the phrase "currently available to XOM" was somehow omitted from the statement. Then that 4-5 number would fit quite well with a 9+ TCF resource.
Future drilling in PRL 15 of Bighorn, Grizzly or Raptor/Duckbill could in the next year or two kick the resource to the 12-15 TCF level. That would allow an initial 4 MTPA feed to Gulf LNG AND an 8 MTPA feed to XOM from PRL 15. This I think would go a long way in satisfying the Gulf Province leadership without even tapping Ttops. And then you have all those red and green drops covering the western flank of Mule Deer best viewed in the 6/15/12 AGM presentation. Gulf LNG certainly seem viable in almost any scenario with the XOM takeoff.
And some people want to sell all of IOC for $200/sh?
I continue to worry a bit though about the issue with Gulf Province and their stated desire to process all gas locally.
The statement by Nolan of a 4-5 TCF resource at E/A is the lowest number I've seen since before Antelope 2 was appraised.
Maybe the phrase "currently available to XOM" was somehow omitted from the statement. Then that 4-5 number would fit quite well with a 9+ TCF resource.
Future drilling in PRL 15 of Bighorn, Grizzly or Raptor/Duckbill could in the next year or two kick the resource to the 12-15 TCF level. That would allow an initial 4 MTPA feed to Gulf LNG AND an 8 MTPA feed to XOM from PRL 15. This I think would go a long way in satisfying the Gulf Province leadership without even tapping Ttops. And then you have all those red and green drops covering the western flank of Mule Deer best viewed in the 6/15/12 AGM presentation. Gulf LNG certainly seem viable in almost any scenario with the XOM takeoff.
And some people want to sell all of IOC for $200/sh?